Tributary Capital Management LLC boosted its position in shares of KeyCorp (NYSE:KEY) by 353.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 124,800 shares of the financial services provider’s stock after buying an additional 97,300 shares during the period. Tributary Capital Management LLC’s holdings in KeyCorp were worth $2,339,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Raymond James Trust N.A. raised its position in KeyCorp by 5.5% in the first quarter. Raymond James Trust N.A. now owns 14,906 shares of the financial services provider’s stock worth $265,000 after buying an additional 774 shares during the period. New England Research & Management Inc. raised its position in KeyCorp by 106.1% in the first quarter. New England Research & Management Inc. now owns 23,790 shares of the financial services provider’s stock worth $423,000 after buying an additional 12,245 shares during the period. Burns J W & Co. Inc. NY raised its position in KeyCorp by 2.8% in the first quarter. Burns J W & Co. Inc. NY now owns 115,450 shares of the financial services provider’s stock worth $2,053,000 after buying an additional 3,145 shares during the period. Chevy Chase Trust Holdings Inc. raised its position in KeyCorp by 2.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 924,505 shares of the financial services provider’s stock worth $16,438,000 after buying an additional 21,454 shares during the period. Finally, Macquarie Group Ltd. raised its position in KeyCorp by 31.7% in the fourth quarter. Macquarie Group Ltd. now owns 869,496 shares of the financial services provider’s stock worth $15,885,000 after buying an additional 209,075 shares during the period. 81.27% of the stock is owned by institutional investors.

KeyCorp (NYSE:KEY) opened at 18.40 on Monday. The stock has a market capitalization of $20.11 billion, a P/E ratio of 18.27 and a beta of 1.11. KeyCorp has a 52-week low of $11.89 and a 52-week high of $19.53. The company’s 50-day moving average price is $18.63 and its 200 day moving average price is $18.26.

KeyCorp (NYSE:KEY) last issued its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.34. KeyCorp had a net margin of 25.03% and a return on equity of 11.19%. The business had revenue of $1.64 billion for the quarter, compared to analyst estimates of $1.53 billion. During the same period in the previous year, the business posted $0.27 earnings per share. The business’s revenue was up 52.1% compared to the same quarter last year. On average, equities research analysts predict that KeyCorp will post $1.36 earnings per share for the current fiscal year.

KeyCorp declared that its Board of Directors has authorized a stock repurchase program on Wednesday, June 28th that authorizes the company to buyback $800.00 million in outstanding shares. This buyback authorization authorizes the financial services provider to repurchase up to 4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Tuesday, August 29th will be paid a dividend of $0.095 per share. The ex-dividend date of this dividend is Friday, August 25th. This represents a $0.38 dividend on an annualized basis and a dividend yield of 2.07%. KeyCorp’s dividend payout ratio (DPR) is 38.78%.

COPYRIGHT VIOLATION NOTICE: This report was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this report on another domain, it was stolen and reposted in violation of U.S. and international copyright and trademark laws. The correct version of this report can be accessed at https://www.thecerbatgem.com/2017/08/07/keycorp-nysekey-shares-bought-by-tributary-capital-management-llc-updated.html.

A number of research firms recently weighed in on KEY. Keefe, Bruyette & Woods raised KeyCorp from a “market perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research report on Monday, July 10th. Zacks Investment Research raised KeyCorp from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research report on Tuesday, July 11th. Instinet reaffirmed a “buy” rating and set a $23.00 price objective on shares of KeyCorp in a research report on Wednesday, July 12th. UBS AG raised KeyCorp from a “neutral” rating to a “buy” rating and raised their price objective for the company from $19.00 to $22.00 in a research report on Monday, July 10th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $21.00 price objective on shares of KeyCorp in a research report on Friday, July 14th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $19.78.

In related news, Director Alexander M. Cutler bought 5,000 shares of the stock in a transaction on Tuesday, July 25th. The shares were bought at an average cost of $18.55 per share, for a total transaction of $92,750.00. Following the completion of the transaction, the director now owns 55,000 shares of the company’s stock, valued at approximately $1,020,250. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David K. Wilson bought 3,500 shares of the stock in a transaction on Friday, July 28th. The shares were bought at an average price of $17.87 per share, for a total transaction of $62,545.00. Following the completion of the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $268,050. The disclosure for this purchase can be found here. Insiders have acquired 14,000 shares of company stock worth $254,720 over the last 90 days. 0.65% of the stock is currently owned by company insiders.

KeyCorp Company Profile

KeyCorp is a bank holding company. The Company is a bank-based financial services company. The Company operates through its subsidiary, KeyBank National Association (KeyBank), which is engaged in providing banking services. Through KeyBank and other subsidiaries, it provides a range of retail and commercial banking, commercial leasing, investment management, consumer finance, and investment banking products and services to individual, corporate and institutional clients.

Institutional Ownership by Quarter for KeyCorp (NYSE:KEY)

Receive News & Stock Ratings for KeyCorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KeyCorp and related stocks with our FREE daily email newsletter.